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Pranab presents Union Budget '10

However on the eve of the Union Budget, Pranab Mukherjee talked about the measures that would be taken by the government to deal with 17.85 percent food inflation and certain aspects of the economy.

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Referring to tax slabs, the finance minister said tax on income up to Rs 1.6 lakh would be nil, above Rs 1.6 lakh to Rs 5 lakh would be 10%, above Rs 5 lakh to 8 lakh would be 20% and above Rs 8 lakh to be 30%. (PTI)

In his speech, the finance minister also said cars would be costlier. 'I am confident that the government will be in a position to implement DTC from April one, 2011... It will be my earnest endeavour to implement GST along with DTC from April one, 2011', finance minister Pranab Mukherjee said in his Budget speech. (BCCL/Amrendra Jha)

The government proposed to extend the concessional export finance regime for select exporters for one more year till March 31, 2011, thus giving the slowdown-hit sector further relief. Expectations are high from the 74-year-old veteran politician, who has tabled four budgets in the past, that he will address the twin issue of bringing down prices while ensuring higher overall growth for the economy. (AP)

However on the eve of the Union Budget, Pranab Mukherjee talked about the measures that would be taken by the government to deal with 17.85 percent food inflation and certain aspects of the economy. (AFP/Raveendran)